Sigma Computing Signs 64K-SF Lease at One Madison Avenue

A business analytics firm is packing its bags at Zero Irving and heading nine blocks north to a bigger office at SL Green Realty’s One Madison Avenue.

Just three years after signing a lease at the brand-new development near Union Square on East 14th Street, Sigma Computing is expanding from 15,420 square feet to 64,077 square feet on the third floor of the building adjacent to Madison Square Park, according to SL Green.

The landlord did not disclose the asking rent or the length of the lease in the deal, but average asking rent for office space in Midtown South was $84.10 per square foot in the second quarter of 2025, according to a report from CBRE.

“Sigma Computing’s decision to establish its presence at One Madison Avenue is a testament to the visionary planning and long-term investment of ownership in creating a truly exceptional office environment,” JLL’s Paul Glickman, who represented the landlord alongside Alex Chudnoff, Ben Bass and Diana Biasotti, said in a statement. “They join a blue-chip lineup of tenants driving leasing at One Madison as it leverages the neighborhood’s blend of creative energy, corporate credibility and unmatched access to talent to continue to attract forward-thinking businesses.”

Brent Ozarowski of Newmark negotiated on behalf of Sigma Computing, but did not respond to a request for comment.

Other tenants in One Madison include IBM, which recently expanded to 362,092 square feet in January; Franklin Templeton; Coinbase with 67,208 square feet signed for in April 2024; Flutter Entertainment, which took 35,898 square feet the same month; and Palo Alto Networks with 28,903 square feet as of  March 2023, as Commercial Observer previously reported.

Mark Hallum can be reached at mhallum@commercialobserver.com.